Broke: Breaking up Big Tech. Woke: Breaking up Big Ads. – Gizmodo

This week, Bloomberg reported that a bipartisan group of lawmakers are inching closer to another big plan to break up big tech. But unlike grandiloquent calls for Meta to divest Instagram or for Google to divest Chrome, this new legislation would force both companies to divest the heart of their money-making machinery: their ads business.

Citing two people familiar with the forthcoming bill, Bloomberg reports that the bill would bar any company with more than $20 billion in digital ad revenue from owning the tech needed to both buy ads and sell ads as well as the online marketplace where those transactions happen—digital vertical integration, in other words. For a company like Google, which does all three of those things, is valued at $1.6 trillion, and earns more than $20 billion in a single quarter, that would spell trouble. The bill’s impending appearance on the Senate floor was first leaked in January. Utah Republican Senator Mike Lee is reportedly spearheading the legislation….

Read Full Story: https://gizmodo.com/google-amazon-facebook-meta-ads-break-up-mike-lee-senat-1848880759

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